A deeper contraction than the global financial crisis likely in 2020 – HSBC

Dhwani Mehta FXStreet

Analysts at HSBC offer their bleak outlook on global economy, with a steeper contraction predicted in the face of the coronavirus pandemic.

Key quotes

“We are likely to see a deeper contraction in 2020 than during the global financial crisis. But so much depends on what comes next: how long the suppression measures last, what medical science can deliver, what further policy support is available.

What is already clear is that this is not just a short-term issue: the medium to long-term implications for global growth, debt levels, public policy and globalization are going to be vast.”

Global economy to contract by 2% in 2020, recovery to be U–shaped – Reuters poll

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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